Maersk Gains as Nordea Gives Stock Top Rating: Copenhagen Mover

By Peter Levring -
Apr 16, 2013

A.P. Moeller-Maersk A/S (MAERSKB), owner of
the world’s largest container line, rose the most in six weeks
to top the Copenhagen benchmark after Nordea gave the stock its
highest rating and said it may gain more than 25 percent.

Maersk’s B shares rose as much as 2 percent, the most since
March 5. The stock gained 0.7 percent to 40,920 kroner at 11:05
a.m. local time, with trading volume at 61 percent of the three-
month daily average. Maersk A shares led gainers in the 20-
member Nasdaq OMX Copenhagen 20 (KFX) index.

Nordea raised its recommendation to strong buy from buy and
reiterated its 55,000-krone price target. The Copenhagen-based
conglomerate probably will continue to divest non-shipping and
oil-related assets, narrowing a discount to peers and lifting
the stock’s value by as much as 19,800 kroner per share, analyst
Finn Bjarke Petersen said in a note to clients.

After having divested $18 billion in assets over the past
10 years, Maersk “might consider” selling whole or part of the
remaining non-core business over the next decade, Petersen said.
The assets, which include holdings in Danske Bank A/S and Danske
Supermarket, are worth about $17 billion, he said.

Of 31 analysts tracking Maersk, 15 recommend increasing
share holdings in the company, while nine are neutral and seven
advise selling the stock.